Construction material costs have been rising so fast it's hard to keep pace, Mohawk CEO Jeffrey Lorberbaum tells CNBC.» Read More
I think that things are going to get worse before they get better in the retail. I took a look at short interest in a few big retail names today and was surprised to see just how many investors were betting AGAINST the stores that cater to the mass market consumer right now.
The Dow and S&P 500 carved out new record highs after stocks rallied sharply later in the week following strong retail sales data and continued mergers and acquisitions activity. Through Thursday, the Dow Jones Industrial Average posted a weekly gain of 1.8%, the S&P 500 rose 1.1%, while the Nasdaq Composite rose 1.3%.
U.S. retail sales in June posted their biggest drop in nearly two years, according to government data Friday, indicating the housing slump and soaring gasoline costs are depressing consumer spending.
Corporate America is on a share buyback binge, fueling concerns that U.S. companies are masking underlying business problems and trying to pump up their executives' compensation.
It has been a tough few months for short-sellers of retail stocks. Buyout activity has helped buoy up stock prices in the sector until Tuesday when it took a turn, and retail stocks were bathed in red following profit warnings from Sears and Home Depot.
The U.S. stock market headed toward an indifferent opening with futures bouncing above and below fair value after Tuesday's selloff. A new round of subprime debt fears on Wall Street spurred selling in equities markets around the world.
Stocks closed with losses of more than 1% after investors were spooked by earnings warnings from two major retailers amid persistent concerns regarding the housing market and subprime mortgages. "Home Depot's cautious comments set the negative tone," said Dan McMahon, head of listed trading at CIBC World Markets.
Sears Holdings on Tuesday forecast lower quarterly profit and said it needs to better control its costs and stock more items that its shoppers demand, sending shares down more than 8.7%.
It has been a tough time to be short retail stocks, even with same store sales likely to be even weaker than expected. Today though the short call is working and many of those short sellers may be willing to step back from the ledge given word from Home Depot and Sears that their earnings will disappoint. That word is countering the positive force of the rumor mill of retail buyouts that have buoyed stock prices despite slumping sales.
The market is on Fed watch today as traders await a speech by Fed Chairman Ben Bernanke on inflation. Stocks are weaker ahead of the open this morning after some negative earnings news. European markets are trading lower and Asia was mixed overnight.
It has been an interesting day for Union Pacific. Plus, did Home Depot get its mojo back?Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Here it is, Jim's list of the worst CEOs in the biz. It takes years of hard work and peerless incompetence to make the cut. Well done, people.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
In a sign of the growing influence that restaurants have on how and where consumers spend their money, a major retail trade group has included for the first time six restaurant companies on its list of the top 100 retailers, released on Friday.
Stocks ended the week lower as investors were rattled by rising energy prices and worries about the potential fallout from two struggling mortgage securities funds managed by Bear Stearns.
Stocks closed sharply lower as bond yields rose and higher oil prices sent energy shares tumbling. The Dow Jones Industrial Average finished down nearly 150 points. "Some traders feel the price of oil was a factor today," Peter Costa, senior managing director at Lipari Partners, told CNBC.com.
Shares of Home Depot climbed sharply after announcing plans to repurchase $22.5 billion in stock, which will be partly funded with proceeds from the sale of the home-improvement retailer's supply business.
Stocks closed mostly higher, helped by lower bond yields and General Electric, which boosted the Dow. "This market bends a little bit but it doesn't break," Al Goldman, chief market strategist at A.G. Edwards., told CNBC.com. "The buyers are a little bit tired but the sellers are not very aggressive."
Offers for Home Depot's supply division are due today, according to a source involved with the deal, with two groups of private equity firms expected to be among the remaining bidders.
It is almost summer but you wouldn't know it by the weather. Next week, the season officially kicks off and the week is expected to be the second coldest, and driest first week of summer in 15 years! Right now the one refrain apparel/retailer CEOs seem to universally repeat is the importance of clearing out inventory over the next few months as stores get ready to restock shelves with back to school items.
Online auctioneer eBay. said Tuesday it is ready to begin auctioning advertising airtime on 2,300 participating U.S. radio stations, expanding on an existing plan to sell cable television ads.